#Industrial Robotics Market Report

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Industrial Robotics Market - Forecast(2024 - 2030)

Industrial Robotics Market Overview

Industrial Robotics Market size was valued at $49.25 Billion in 2030, and it is estimated to grow at a CAGR of 11.9% during 2024-2030. The advent of numerous sorts of techniques committed to production control and the introduction of automation solutions are the key components of present production improvement policies. In addition, the increasing awareness of industrial robots has resulted in their deployment ranging from manufacturing to the healthcare industry. Moreover, this market is majorly driven by a surge in labor charges worldwide, which in turn has forced manufacturers to replace human labor with machines. Asia and Europe are the key growth regions of the world, with leading players, namely ABB, Fanuc, KUKA, Kawasaki, and the Yaskawa Electric Corporation being based out in the region. Collaborative Robots (Cobots) are revolutionizing the industry by working alongside humans without the need for safety cages. This trend is gaining momentum due to the increasing demand for automation in smaller factories and their expanding role in diverse industries. Cobots enhance flexibility, efficiency, and safety in manufacturing processes. Simultaneously, advancements in AI and IoT are driving a paradigm shift in industrial robotics. AI empowers robots to learn and adapt, making them more intelligent and versatile. The integration of IoT enables robots to communicate with each other and other systems, fostering enhanced collaboration and efficiency. This synergy is propelling the industrial sector towards Industry 4.0, where smart manufacturing processes redefine automation standards. As a result, the industrial robotics market is evolving with the widespread adoption of Cobots and the integration of AI and IoT, ushering in a new era of intelligent and collaborative automation. Hence these benefits are analyzed to drive the market in the forecast period 2024-2030.

Report Coverage

The report: “Industrial Robotics Market Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Industrial Robotics Market.

By Category: Articulated Robot, Cylindrical Robot, Linear Robots, Cartesian & Gantry, Parallel Robot, SCARA Robot, Spherical Robots, Dual arm, Others

By Configuration: Mounted, Cobots/ Collaborative Robots)

By Components: (Manipulator, Sensor Devices, Robot Tooling, RCU - Robot Controller Unit

By payload: Up to 5KG, 5.1 to 10 KG, 10.1 to 15 KG, and More than 15 Kg

By End User: Automotive and Autoparts, Electrical & Electronics, Food and Beverages, Metal Fabrication and Palletization, Medical, Chemical, and Life Sciences, Others

By Geography: North America, South America, Europe, APAC, RoW.

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Key Takeaways

APAC dominated the Industrial Robotics Market in 2023 with a share of 58%. High and early adoption of advanced technologies is set to boost the market growth. The strong financial position allows it to invest heavily in the adoption of latest tools and technologies for ensuring effective business operations.

Parallel robots are estimated to grow at a CAGR of 11.8% market. These Robots will be formed by connecting parallelograms to a common base and are also referred to as spider-like robots.

Robotic automation enables to achieve innovation in a quick and impactful way which can drive quantifiable benefits to the industrial automation industry.

Category - Segment Analysis

Parallel robots are estimated to grow at a CAGR of 11.8% market. These Robots will be formed by connecting parallelograms to a common base and are also referred to as spider-like robots. These robots are mostly used in the food industry, pharmaceuticals, and electronic industries. As they can do delicate/precise movements. Similarly, these robots will use three servo motors and are very high in speed and perfectly suited for light-duty tasks within small working zones. These are the main reasons which tends to be used for high-speed sorting and packaging in the food, pharmaceutical, and electronic industries. In addition, the delta robot market is anticipated to be driven by the trend of miniaturization in the manufacturing industry, moreover, smaller sizes of objects lead to increased challenges of various micro-assembly tasks, expected to increase the demand for delta robots. Moreover, technologically advanced machine vision 3D cameras are being integrated with delta robots to enhance their efficiency and accuracy. In addition, Delta robots with vision systems can perform lethargic, dull, and monotonous tasks at high speed and accuracy with minimum imperfections and scrap. This will improve the performance of delta robots and increase their adoption in end-user industries. Additionally, several companies are investing heavily in research and development activities for these robots. In 2022, Omron expanded its i4H SCARA lineup with food-grade robots, catering to the food and beverage and packaging industry. These new additions prioritize safe handling, ensuring compliance with the industry's stringent hygiene standards. Similarly, companies such as ABB, KUKA AG, and so on are investing heavily in the development of advanced robots in the forecast period 2024-2030.

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End User - Segment Analysis

Electrical & Electronics is the fastest-growing segment in the Industrial Robotics Market and is estimated to grow at a CAGR of 9.4%. The Electronics sector has also been slowly emerging as a major end-user for the Industrial Robotics Market with its higher adaptability due to growing digitalization. Since accuracy and precision are of important factors in an electronic production plant, thus due to ease of use, the electronics sector has been proactively adopting industrial robots, boosting its market growth. With the growing shift towards automation of manufacturing processes, industries like electrical and electronics have been widely deploying industrial robots to perform high-precision tasks, thus improving productivity standards. The usage of industrial robots helps electrical and electronics companies to automate almost every manual task while adding value to their business growth. Thus, growing adoption has been causing a positive impact on the market growth of industrial robots. With growing development of the electronics sector due to rising demands for electronic devices by consumers has been also acting as a major driver toward higher requirements for industrial robots. As industries are shifting towards smart technologies, industrial robots are gaining much popularity in the electronics sector due to their capabilities of performing tasks like integration and assembling of various small-sized components within electronic devices such as mobile phones, computers, and many others more efficiently within less time intervals. Since electronics manufacturers have to work under tight profit margins, industrial robots act as a cost-effective solution for improving the automation standards in their industry. Industrial Robots are used in applications ranging from cutting metal housings to assembling miniature components on boards, to applying adhesives and polishing surfaces, thus performing quality inspections and packing of finished products, at lower costs. Moreover, in the electrical and electronics sector, industrial robots are utilized mainly in assembly, screw tightening, electronic parts insertion as well as inspection processes as the robots are highly capable of sustaining harsh working environments. Such growing deployments help the industry to continue with their production process with quality preservation even at times of lack of skilled labor. Additionally, with innovations in the field of industrial robotics, lightweight and smaller robots are facing high demands in this sector.

Geography- Segment Analysis

APAC dominated the Industrial Robotics Market in 2023 with a share of 58%, followed by Europe and North America. High and early adoption of advanced technologies in countries such as India, and China is set to boost the market growth. The strong financial position allows it to invest heavily in the adoption of latest tools and technologies for ensuring effective business operations. The Chinese government’s ‘Made in China 2025’ policy aims at improving the competitiveness of Chinese companies through automation. According to the Ministry of Industry and Information Technology, in 2022, China's industrial robot output grew by 5.4% to 222,000 units in the first half of the year. Service robot production surged by 9.62% to 3.53 million units. China maintained its global lead in industrial robot installations in 2022, capturing over 50% of the market share. Moreover, the automotive industry is the major adopter of industrial robotics with a wide variety of applications and thus the growing automotive industry in this region will propel the market. Companies such as BAIC Motors, and Changan Automobile Group, have been investing heavily in the adoption of robotics in the forecast period 2024-2030. In addition, the launch of ‘Make in India’ has increased the focus on the Indian manufacturing sector, which is set to be among the fastest-growing markets in the APAC region as well as globally. The manufacturing sector’s growth output has increased and is projected to exhibit high growth. For instance, the government of India has committed to investing more than $13 billion in industrial robotic R&D. The government estimates the manufacturing sector value could reach $1 trillion by 2025. Major companies such as GE, Bosch, and Panasonic are planning to invest in the country which would boost India’s economic growth.

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Drivers – Industrial Robotics Market Robotic Process Automation and Artificial Intelligence Automation Spending Driving the Growth of Industrial Robots

The Robotics process automation landscape has changed in the past couple of years and has evolved from an emerging factor for the industrial robotics industry. Robotic automation enables to achieve innovation in a quick and impactful way which can drive quantifiable benefits to the industrial automation industry. Across the globe, automation companies are investing lots of capital to develop and innovate new technology in research and development. In 2023, ABB committedto investing $280 million in Sweden's Västerås to boost its European Robotics hub, catering to rising demand for AI-driven collaborative and industrial robots. The expanded campus, aligned with ABB's local production strategy, aims to enhance capacity by 50%, meeting evolving market needs amid supply chain challenges. Similarly, companies such as Mitsubishi Electric Corp, Ellison, and so on are investing heavily for the development of industrial robots in the forecast period. Some of the key factor affecting robotic process automation includes process with higher automation potential, with higher headcount reduction that offer a great cost saving to the manufacturers. Robotic Process Automation (RPA) recurring costs including licensing, hosting, and monitoring vary significantly by vendor and type of solution, the lower the recurring cost for RPA, the higher the cost saving. Various service providers are implementing RPA tools in various areas of end-user processes focusing on achieving consistency, risk reduction, and cost reduction factors.

Rising Labor Costs Amidst the Aging Workforce to Boost the Industrial Robots Demand

The labor cost is highly significant in the total industrial operating cost, making generally 62%-65% of the total cost. In majority of the cases, manual jobs typically consist of two categories of staff: direct and indirect where industries cover an area of more than 2, 00,000 square feet. Direct staff is responsible for executing the process while indirect staff is for the back-end support for direct staff. The presence of both direct and indirect staff coupled with department managers presents a crucial cost in operating a warehouse. For instance, according to the U.S. Bureau of Labor Statistics' Employment Cost Index, wages and salaries rose by 4.3% in the 12 months ending December 2023, while benefit costs increased by 3.8% over the same period. Moreover, according to the U.S. Bureau of Labor Statistics,total nonfarm payroll employment increased by 353,000 in January, maintaining the momentum from December's gain of 333,000. Throughout 2023, employment rose by an average of 255,000 jobs per month. As average hourly earnings will rise further amidst the rising global inflation with weekly hours to remain constant or decline in the coming years, the operating costs are bound to advance. Apart from this, the developing nations have seen constant growth in the aging workforce resulting in issues related to safety, quality control, and productivity. Thus, the automation of industries has become a notable means to tackle the rising wages and workforce age. This has resulted in industrial operators relying upon robotics to provide a convenient and efficient way of reducing operational costs while simultaneously maintaining productivity at optimum levels.

Challenges – Industrial Robotics Market Limited Flexibility of Robots for Handling Skus Posing Challenge for Industrial Robotics

The dawn of electronic commerce enabled by the increasing accessibility to mobile devices has resulted in consumers shopping online from a multitude of merchandisers. As the delivery to the consumer in working time of 3-5 days is crucial for retailers, it has resulted in multi-varied stock-keeping units (SKUs) and caseloads. This scenario often becomes challenging in the Food & Beverage sector where companies need to address the consumer demand at a much faster pace. The robots utilized in the process industries are simply robots used in manufacturing operations that only require limited flexibility in handling pallets. Although over time, robots have developed to handle the SKUs with greater precision and accuracy but still require a great deal of evolution in handling mixed SKUs with consistent speed and accuracy without damaging the product. Hence these kinds of challenges hamper the market growth in the forecast period 2024-2030.

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Industrial Robotics Market Landscape

Product launches, acquisitions, Partnerships, and R&D activities are key strategies adopted by players in the industrial robotics market. Industrial Robotics' top 10 companies include Fanuc, KUKA AG, ABB Group, Yaskawa Electric Corporation, EPSON, Kawasaki Heavy Industries, Ltd, Mitsubishi Electric Corporation, Omron Adept Technology, Staubli, Denso Corporation, and Automation among others.

Ø  In November 2023, ABB Robotics introduced the IRB 930 SCARA robot, enhancing pick-and-place and assembly tasks in electronics, automotive, and renewable energy sectors. With a 10% increase in throughput and 200% stronger push-down capability, it optimizes productivity and quality, addressing evolving industry needs for heavier workpieces and force-intensive operations.

Ø  In November 2023, Yaskawa Electric Corporation has unveiled the MOTOMAN NEXT series, pioneering adaptive robotics in the industrial sector. With five models boasting payloads ranging from 4kg to 35kg, these robots possess autonomous adaptivity, a groundbreaking feature for making environment-based judgments, driving innovation in industrial automation

Ø  In April 2023, Doosan Robotics introduced the NSF-certified E-SERIES, a line of collaborative robots tailored for the food and beverage sector. This launch expands their product range with 13 new offerings, marking a significant milestone in the cobot market.

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Robotics Smart Motor Market Trends: Growth and Opportunities Through 2024-2033

The global space qualified propellant tank market is witnessing significant growth, driven by the increasing demand for satellite launches, advancements in space exploration, and the rising involvement of private players in the space industry.

In 2023, the Europe Space-Qualified Propellant Tank Market was valued at $403.2 million and is expected to reach $501.8 million by the end of 2033, growing at a CAGR of 2.21% during the forecast period 2023-2033. 

Robotics Smart Motor Overview 

The space qualified propellant tank market refers to the global industry dedicated to the design, production, and distribution of propellant storage solutions specifically engineered for spacecraft. These tanks are tailored to meet the stringent requirements of space missions, ensuring durability, reliability, and performance in extreme conditions. The market encompasses various materials, applications, and end users, including government space agencies and commercial space companies, driving innovations in satellite propulsion, launch vehicles, and deep-space exploration.

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Demand Drivers for Space Qualified Propellant Market 

Rising Satellite Launches 

Advancements in Space Exploration 

Emergence of Commercial Space Industry 

Technological Innovations 

Robotics Smart Motor   Market Segmentation 

1 By Platform - Segmentation 1 

Satellite 

(i) 0 to 500 Kgs 

(ii) 501-1,000Kg 

(iii) 1,0001 Kg and above 

LaunchVehicle 

(i) Small Lift Launch Vehicle 

(ii) Medium and Heavy Lift Launch Vehicle 

By Propellant Task 

Diaphragm Tanks 

Propellant Management Devices 

Aluminium Alloy Tanks 

By Region 

Europe - UK, Germany, France 

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Key Market Players

•    Airbus S.A.S.

•    ArianeGroup

•    OHB SE

Recent Developments 

•  In January 2022, Stellantis N.V. is a Dutch multinational vehicle manufacturer that emerged from merging PSA and Fiat Chrysler Automobiles. The company installed 11 Robotics Smart Motor   arms from Universal Robots (UR) at its Mirafiori factory in Turin, Italy, to automate a number of complicated assembly line activities and quality controls for the new Fiat 500 electric vehicle.

• In December 2023, ABB Robotics and XtalPi formed a strategic cooperation to manufacture a line of automated laboratory workstations in China. The new automated laboratories will increase the efficiency of R&D operations in biopharmaceuticals, chemical engineering and chemistry, and new energy materials.

Conclusion

The Robotics Smart Motor   market is a dynamic and rapidly evolving sector that is transforming the way industries approach automation. With their ability to work safely alongside humans, ease of integration, and cost-effectiveness, cobots are well-positioned to disrupt traditional manufacturing and production systems. As businesses continue to face challenges such as labor shortages, safety concerns, and the need for operational flexibility, the demand for Robotics Smart Motor  s will only continue to grow. 

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The Europe digital twin market is projected to reach $297.5 billion by 2033 from $3.0 billion in 2023, growing at a CAGR of 58.55% during the forecast period 2023-2033.

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United States robotics market size is projected to exhibit a growth rate (CAGR) of 4.00% during 2024-2032. The escalating demand for advanced technologies that contribute to enhanced safety in perilous environments, heightened production efficiency, cost reduction, and product quality improvement is primarily driving the market growth across the country

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Agriculture Autonomous Robots Market: A Global and Regional Analysis | BIS Research

According to BIS Research, the global agriculture autonomous robots market was valued at $828.4 million in 2022, and it is expected to grow with a CAGR of 25.12% during the forecast period to reach $3,136.7 million by 2028.

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Elevating Medicine: Stem Cell Manufacturing Market Growing Influence

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Aerospace Robotics Market Opportunity Assessment, Market Challenges, and Key Players Landscape by 2030

Global Aerospace Robotics Market research report published by Exactitude Constancy reveals the current outlook of the global and key regions from the following perspectives: Key players, countries, product types, and end industries. The report studies the top companies in the global market and divides the market into several parameters. This Aerospace Robotics Market research report pinpoints the industry's competitive landscape to understand the international competition. This report study explains the expected growth of the global market for the upcoming years from 2024 to 2030. This research report is accumulated based on static and dynamic perspectives on business.

The Global Aerospace Robotics Market is expected to grow at 11.80% CAGR from 2023 to 2029. It is expected to reach above USD 7.91 Billion by 2029 from USD 2.90 Billion in 2023.

Browse the Complete Summary and Table of Contents @ https://exactitudeconsultancy.com/ja/reports/16247/aerospace-robotics-market/

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[242 Pages Report] The 3D printing robot market was valued at USD 1.6 billion in 2023 and is estimated to reach USD 3.2 billion by 2028, registering a CAGR of 14.6% during the forecast period.

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Revolutionizing Industries - The Robotic Palletizers Market

In the ever-evolving landscape of industrial automation, one of the standout innovations that has been transforming various industries is the Robotic Palletizers market. This remarkable technology has not only streamlined manufacturing processes but has also ushered in a new era of efficiency, precision, and cost-effectiveness.

Robotic palletizers are automated machines designed to arrange and stack products onto pallets. They have gained immense popularity across a wide range of industries, including food and beverage, pharmaceuticals, logistics, and manufacturing. The primary driving force behind this surge in demand is the desire for increased productivity and reduced operational costs.

The Robotic Palletizers market has been experiencing steady growth over the past decade, and this trend is expected to continue. The Robotic Palletizers market is witnessing exponential growth and innovation, with no signs of slowing down. As industries continue to seek ways to boost productivity, reduce costs, and improve safety, robotic palletizers are poised to play a pivotal role in shaping the future of manufacturing and logistics. Businesses that embrace this technology will likely gain a competitive edge, positioning themselves for success in a rapidly evolving industrial landscape.

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Artificial Intelligence (AI) in Collaborative Robotic (Cobots) Systems Market - Forecast(2024 - 2030)

AI in Cobots Market Overview

The global AI in cobots market in 2021 reached $118.2 million and is estimated to grow at a CAGR of 34.22% during the forecast period to reach $616.3 million by 2027. The entire robotics industry is witnessing the effects of Covid-19 pandemic, with strain felt on the supply chain restricting parts of imports and equipment exports in H1 2021 especially. The overall economic uncertainty also pushed majority of customers to defer purchases in order to conserve capital. Recent advancements in Machine Learning and human robot interaction have enabled collaborative robots to precisely execute tasks in dynamically changing workspaces, enabling operations and material handling to run more smoothly, efficiently and productively. AI is now intelligently powering cobots by leveraging billions of hours of iterative machine learned practices in manufacturing, production and engineering. Collaborative robots (cobots) represent a variant of industrial robots and is currently considered to be one of the fastest growing segments in industrial automation driven by improved technology such as virtual assistants, cloud computing, internet of things. A cobot is a type of robot that is designed to operate alongside humans in shared workspaces. These machines are easy to program and deploy, can increase productivity manifold, and offer high returns on investment.

Report Coverage

The report: “AI in Cobots Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the AI in Cobots market

By Payload: Up to 5 Kg, 5 to 10 Kg, Above 10 Kg. By Application: Handling, Assembling/Disassembling, Welding and Soldering, Dispensing, Packaging and Others. By End User: Automotive, Electronics, Semiconductor, Plastics and Polymer, Food and Beverage, Healthcare, Metals and Machining and others. By Geography: North America (U.S, Canada, Mexico), South America (Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).

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Key Takeaways

Group PSA’s Sochaux plant in France has chosen Universal Robots UR10 for its "Plant of the Future" Project. Two UR10 cobots have been implemented at the Sochaux plant in screw driving applications on body-in-white assembly lines to increase performance and reduce production costs at the factory.

In 2019, Walmart has planned to invest $2.7 billion to add new robots totaling almost 4,000 robots in its stores and facilities in order to shift human workforce to customer service roles. The robots are majorly used for scanning, sorting goods from delivery trucks. This is set to create opportunities for AI in cobots in retail sector.

AI in Cobots Market Segment Analysis – By Application

Material Handling had a major share in the AI in Cobots Market with a value share of approximately 22.3% in 2021. Material handling is one of the major applications of industrial robots. Robots in material handling segment are used in applications such as movement of goods, protection, storage and control of products throughout manufacturing as well as warehousing of the products. Any industries that need to store, receive, dispatch or ship its products always entail industrial robot. Manufacturing and Warehouse operations involving handling of goods becomes complex when it takes place at a larger scale. This is made easy and efficient with the aid of industrial robots. Material handling robots are majorly used in warehousing applications as compared to its counterpart. Material handling applications that benefit from the incorporation of AI cobots encompass picking, packing, palletizing, sorting, and more. The wide-ranging use of these applications makes them a more site-specific solution for safety implementation. Operators and other workers are often moving or transporting other materials around the AI cobot, requiring additional planning to avoid hazardous contact. Safety-rated grippers are rare in the market at the present time. Currently, manufacturers typically use pneumatic grippers, which require safety considerations for impacts and the loss of power or suction. Uses of bar code, RFID, voice-activated receiving and packaging, pick-to-light technology, transportation management system is some of the drifts observed by material handling robots. Cycle counting, annual, physical and perpetual are few approaches of keeping a track of inventory.

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AI in Cobots Market Segment Analysis – By End User

Among industries, automotive held the largest share in 2021 at 23.2%. The industry development of AI cobots is ongoing in several different areas. Faster reaction time, more exact movement patterns, orientation capabilities, capabilities in imitating humans – all these aspects contribute to advancements in AI driven cobot development. In addition, brain-computer interfaces is an exciting area that has made significant progress recently. In recent developments in technologies such as linked data, parallel processing, edge computing and distributed artificial intelligence allow for efficient decision making by cobots, making execution robust and efficient. A challenge with the market deployment of AI cobots is that insufficient technology maturity hinders the market deployment of cobots. AI Cobot technology includes hardware design, sensors and actuators, efficient information processing, video processing, planning and multiple of fields from artificial intelligence landscapes, along with technologies that ensure safety, predictability and security of the solution. There is currently a need for high amount of signaling, bandwidth, low latency, and fast decision-making capabilities through efficient computing for AI driven cobots in safety-critical environments, wherein the facilities do not need human intervention. While the automation industry was affected during the pandemic, the longterm outlook for automation is positive, as end users evaluate their reliance on overseas supply chains and reevaluate their operations in a world where a pandemic can stop production cold. Automation is hence being looked upon as a valuable bulwark against the risks laid bare during the pandemic, and this can act as a strong growth driver for AI driven cobots and robots in industrial automation end user verticals.

AI in Cobots Market Segment Analysis – By Geography

Geographically, APAC held major share of 37% of AI in cobots market share in 2021, owing to high adoption of automation technologies in industrial and automotive warehouses and increasing investments and funding. North America is the next largest market with 33% revenue share in 2021. South America is witnessing the fastest growth rate with a CAGR of around 46.6% during the forecast period 2022 – 2027 owing to high investments and growing deployment of automation technology mainly in the countries such as Brazil, Argentina and Colombia. Portuguese company MOV.AI has announced in October, 2020 that it has raised $4m in funding. The company has designed its ROS for manufacturers of cobots, as well as academics and automation integrators. It also contributes to the ROS community. Some of the robots with AI enabled are YuMi from ABB, Franka Emika Panda, APAS from Bosch, Aura, Aubo, NEXTAGE and CORO etc.

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AI in Cobots Market Drivers

Growing demand for automation and technological advancements set to drive the AI In Collaborative Robotics Market

There has been significant growth in AI driven collaborative robotics market owing to the increased demand for automation, high competition in the e-commerce industry, and the advancement in technologies such as Internet of Things (IoT) and Artificial Intelligence (AI). The use of robots reduces the risk of injury to workforce has also witnessed growth. Integration of robots with artificial intelligence (AI) and machine vision technology has been assisting companies in obstacle detection, navigation, movement of the goods. This has been attracting vendors in automating the warehouses and installing the robots in warehouse, thereby driving the collaborative robotics market. In 2019, Geek Plus Robotics, an intelligent logistics robot solution provider had launched the world’s first interweaving sorting robot, which could be an alternative to conveyor systems. Mobile Industrial Robots (MiR), a leading manufacturer of collaborative mobile robots launched a new warehouse robot to automate the transportation of pallets and heavy goods across warehouses. Development of new robots for various applications of warehouses set to boost the demand of collaborative robotics market.

Growth in E-Commerce Sector

E-Commerce industry is rising at global level of retail and logistics. As a result, growing number of e-commerce companies look forward to automate warehouses. Warehouse robots play a key role in e-commerce industry for various applications such as automated storage and retrieval, picking and placing, order fulfillment operations and many others. Adoption of warehouse cobots by e-commerce companies helps in reducing operational and logistical costs and save on delivery time. This has been increasing automation in warehouses in order to deliver goods to shoppers in faster and more efficient ways by increasing productivity of supply chain. In developed countries such as the U.S., and Canada, Grocery retailers are focusing on deploying robots that bring the shelf stacks to human workers, who pick out the right products and package them up to be sent out. These robots travel with high speed, faster than humans, thereby increasing efficiency of the work. In 2019, Amazon had introduced new warehouse cobots in several of its U.S. warehouses that scan and pack items to be sent to customers. It has started using robots in warehouses, which scans goods coming down a conveyor belt raising the scope of adoption. In 2020 Covariant.ai launched its AI robots and solutions through its warehouse bin-picking robots which is being used by companies such as Knapp, a warehouse logistics company and Obeta, a German electronics retailer. As per estimates, around 2,000 AI powered robots have been deployed across warehouses globally.

AI in Cobots Market Challenges

High Initial Investment

The initial cost of AI driven collaborative robots that are used in factories are high as the cost of automation is much higher in comparison with labor costs. This prevents most companies from completely automating their operations with robots. The average selling prices of cobots vary from $25,000 to $50,000 and does not include the installation costs. In addition to this, there is a training cost associated with the robots that further restricts the operators’ likeability for integrating robots into their operating lines. Slow deployment of collaborative robotic systems by smaller and medium enterprises hampers the robotics market. However, high labor costs are set to drive the collaborative robot market during forecast period.

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AI in Cobots Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the AI in Cobots market. In 2021, the market of AI in Cobots market has been consolidated by the top players

Fanuc

Techman Robots

Rethink Robots

AUBA Robots

ABB

Kawasaki

KUKA

Yaskawa

Staubli

Universal Robots

Recent Developments

In May 2019, the government of Saudi Arabia announced an investment of $30 billion to upgrade warehousing facilities by adoption of the advanced autonomous robots in the newly built warehouses across Saudi Arabia, thereby contributing towards the growth of the cobots market during forecast period in this region.

In October 2019, the South Korean government announced an investment $150 million to develop the intelligent robots for various industrial application which includes warehousing and logistics, thereby enhancing the growth of the cobots market.

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Collaborative Robot (Cobot) Market Trends: Growth and Opportunities Through 2024-2033

The concept of collaborative robot (Cobots) first evolved in the late 1990s, when Northwestern University professors invented the phrase. The early development of cobots was motivated by the desire for safer robot-human interaction in the manufacturing industry. Initial models were crude and focused mostly on improving human capabilities through direct physical assistance in shared chores. 

These first-generation cobots lacked the sophisticated sensor technology and AI capabilities seen today, but they paved the way for future advancements by demonstrating the ability of robots to collaborate with human operators without the need for safety cages or extensive physical barriers.

The global Collaborative Robot (Cobot) Market  was valued at $828.2 million in 2023, and it is expected to grow with a CAGR of 12.73% during the forecast period 2023-2033 to reach $141.29 billion by 2033.

Collaborative Robot (Cobot) Overview 

Collaborative Robots (Cobot) are designed to work alongside humans in shared workspaces, with increased safety features and ease of use. Cobots, unlike standard industrial robots, are lightweight, versatile, and outfitted with sensors and force-limited joints to ensure safe human interaction. These robots are increasingly used in a variety of industries, including electronics and automotive, for jobs ranging from material handling to sophisticated assembly, increasing productivity and decreasing physical strain on people.

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Demand Drivers for Collaborative Robot 

Demand for automation in small and medium enterprises 

Increased focus on worker safety 

Labour shortages and aging workforce 

Flexibility and ease of  Integration 

Collaborative Robot (Cobot) Market Segmentation 

By Industry 

By Application 

By Type 

By Payload 

By Component 

By Region 

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Key Market Players

ABB

AUBO (Beijing) Robotics Technology Co., Ltd.

Bosch Rexroth AG 

Comau S.p.A.

DENSO International America, Inc

FANUC CORPORATION

HAHN Group Gmbh

Recent Developments 

•  In January 2022, Stellantis N.V. is a Dutch multinational vehicle manufacturer that emerged from merging PSA and Fiat Chrysler Automobiles. The company installed 11 collaborative robot arms from Universal Robots (UR) at its Mirafiori factory in Turin, Italy, to automate a number of complicated assembly line activities and quality controls for the new Fiat 500 electric vehicle.

• In December 2023, ABB Robotics and XtalPi formed a strategic cooperation to manufacture a line of automated laboratory workstations in China. The new automated laboratories will increase the efficiency of R&D operations in biopharmaceuticals, chemical engineering and chemistry, and new energy materials.

Conclusion

The collaborative robot market is a dynamic and rapidly evolving sector that is transforming the way industries approach automation. With their ability to work safely alongside humans, ease of integration, and cost-effectiveness, cobots are well-positioned to disrupt traditional manufacturing and production systems. As businesses continue to face challenges such as labor shortages, safety concerns, and the need for operational flexibility, the demand for collaborative robots will only continue to grow. 

[mohitbisresearch]

The global surgical robotics market was valued at $8,705.3 million in 2022 and is anticipated to reach $18,410.9 million by 2032, witnessing a CAGR of 7.78% during the forecast period 2022-2032.

[ashimbisresearch]

Agriculture Autonomous Robots Market | BIS Research

The global agriculture autonomous robots market was estimated by BIS Research to be worth $828.4 million in 2022. Over the course of the forecast period, 2023–2028, it is anticipated to increase at a compound annual growth rate (CAGR) of 25.12%, reaching $3,136.7 million by 2028.